Commitment to Purchase Bonds Sample Clauses

Commitment to Purchase Bonds. The Corporation agrees, on the terms and conditions contained in this Agreement, to purchase Bonds bearing interest at a Variable Rate (and not defeased) that are tendered to the Corporation from time to time pursuant to the Authorizing Document during the Purchase Period at the Purchase Price. In accordance with Section 2.3 of the GE Capital Agreement such purchase shall be made from Corporation moneys or moneys made available by GE Capital to the Corporation under the GE Capital Agreement. The Corporation will exercise its rights under the GE Capital Agreement and make a borrowing thereunder in a timely manner in order to obtain all funds necessary to meet the payment obligations under this Agreement. The aggregate principal amount of the Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Bonds to but excluding such date. The Corporation agrees that in no event shall amounts paid by it in respect of the Purchase Price be paid from funds or property of the Issuer. The parties hereto acknowledge that the obligation of the Corporation hereunder to purchase Bonds pursuant and subject to the terms and conditions of this Agreement is irrevocable and constitutes an extension of credit to the Issuer at the Effective Date and that the obligation of the Issuer to repay amounts advanced by the Corporation under this Agreement in respect of the purchase of Bonds shall be evidenced by the Bonds so purchased. From and after the Effective Date, the obligation of the Corporation to purchase Bonds pursuant to this Agreement shall run to the benefit of those beneficiaries identified in Section 7.10.
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Commitment to Purchase Bonds. The Bank agrees, on the terms and conditions contained in this Agreement, to purchase the Tendered Bonds for its own account from time to time during the Bank Purchase Period at the Purchase Price. The aggregate principal amount of all Bonds purchased on any Bank Purchase Date shall not exceed the Available Principal Commitment (calculated without giving effect to any purchase of Bonds by the Bank on such date) on such date. The aggregate amount of the Purchase Price comprised of interest on the Bonds (the "Interest Component") purchased on any Bank Purchase Date shall equal the actual aggregate amount of interest accrued on each such Bond to but excluding such Bank Purchase Date, and not to exceed the Available Interest Commitment on such Bank Purchase Date. Any Bonds so purchased shall thereupon constitute Bank Bonds and shall, from the date of such purchase and while they are Bank Bonds, bear interest at the Bank Rate and have other characteristics of Bank Bonds as set forth herein and to the extent not in conflict herewith, in the Indenture.
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Commitment to Purchase Bonds. SECTION 2.01 Commitment to Purchase Bonds . . . . . . . . . . . . . . . . 4 2.02
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Commitment to Purchase Bonds. SECTION 2.01. Commitment to Purchase Bonds...........................................................4 SECTION 2.02.
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Commitment to Purchase Bonds. The Bank agrees, on the terms and subject to the conditions contained in this Agreement, to purchase Eligible Bonds from time to time during the Purchase Period at the Purchase Price which Eligible Bonds are tendered pursuant to an optional tender (pursuant to Section 6.01 of the Second Supplemental Resolution) or a mandatory tender (pursuant to Sections 6.02 (if the Bank has given its prior written consent to the inclusion of Bonds bearing the Commercial Paper Rate in the category of Eligible Bonds),
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Commitment to Purchase Bonds 
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Related to Commitment to Purchase Bonds

  • Purchase of Notes and Warrants On the Closing Date, the Subscriber will purchase the Notes and Warrants as principal for its own account for investment only and not with a view toward, or for resale in connection with, the public sale or any distribution thereof.

  • Repayment to Issuer Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, and premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding of the Initial Xxxx of Sale and (ii) the payment by Funding to Town Hall Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial Xxxx of Sale. Town Hall Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan.

  • Purchase of Convertible Debentures Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at each Closing and the Company agrees to sell and issue to each Buyer, severally and not jointly, at each Closing, Convertible Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto.

  • Revolving Notes The Revolving Loans made by each Lender shall be evidenced by a duly executed promissory note of the Borrower to such Lender in an original principal amount equal to such Lender's Revolving Commitment Percentage of the Revolving Committed Amount and in substantially the form of Exhibit 2.1(e).

  • Cancellation of Notes Paid, Converted, Etc The Company shall cause all Notes surrendered for the purpose of payment at maturity, repurchase upon a Fundamental Change, redemption, registration of transfer or exchange or conversion (other than any Notes exchanged pursuant to Section 14.12), if surrendered to the Company or any of its agents or Subsidiaries, to be surrendered to the Trustee for cancellation. All Notes delivered to the Trustee shall be canceled promptly by it in accordance with its customary procedures. Except for any Notes surrendered for registration of transfer or exchange, or as otherwise expressly permitted by any of the provisions of this Indenture, no Notes shall be authenticated in exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall dispose of canceled Notes in accordance with its customary procedures and, after such disposition, shall deliver evidence of such disposition to the Company, at the Company’s written request in a Company Order.

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